Thu, 10/01/2013 - 12:08
Behrman Capital, a private equity investment firm based in New York and San Francisco, has acquired Tresys Technology, a provider of cybersecurity products, services and solutions to government and commercial customers.
Financial terms of the transaction were not disclosed.
Based in Columbia, Maryland, Tresys offers services and products that address computer network defence, focusing primarily on platform security, assured information sharing and security engineering. Tresys has built its business at the intersection of Linux and information security, two of the fastest growing markets in the IT sector, and is a widely-recognised expert in Security Enhanced Linux.
Grant G Behrman, managing partner of Behrman Capital, says: "The acquisition of Tresys represents the culmination of our search for a high quality asset in the cybersecurity sector while also building on the firm's significant expertise in defence and intelligence operations. A long-time leader in cybersecurity, Tresys has successfully bridged the gap between the high-assurance government and critical infrastructure markets. We are confident that its current capabilities and infrastructure, product portfolio and outstanding customer relationships will provide a strong foundation for substantial operational and financial growth. We are excited to partner with Gary Latham and his team to accelerate the Company's development."
Tresys chief executive Gary Latham says: "Today marks the beginning of an exciting new chapter for our company. Tresys has made great strides in developing the infrastructure and product offering we need to take the company to the next level. Under Behrman's ownership, we will be able to more fully develop our sales and marketing organisation, continue to expand our technology portfolio and achieve the scale to compete as a prime contractor for critical cybersecurity initiatives in government and critical infrastructure. I want to thank our entire team for everything they have done to get us to this point. As the company has evolved and expanded over the years, we have worked together to build and maintain a unique culture that serves our customers well and makes Tresys a special place to work."
Peter Pace, an operating partner at Behrman Capital, will serve as the chairman of the Tresys board of directors. Pace served as the 16th chairman of the Joint Chiefs of Staff, the most senior position in the United States Armed Forces, from September 2005 to October 2007. As the principal military adviser to the President, the Secretary of Defence, the National Security Council and the Homeland Security Council, Pace was a principal architect of the nation's cybersecurity strategy. Pace is currently the chairman of Pelican Products and a director of ILC Industries.
Goodwin Procter acted as legal counsel to Behrman Capital for the transaction. Womble Carlyle Sandridge & Rice acted as legal counsel to Tresys. White Peak Capital acted as financial adviser to Tresys.
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